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Icahn: Yahoo, Google Deal 'Might Have Some Merit'

Tuesday, June 17, 2008
By bMighty.com Staff

Carl Icahn, who last month launched a proxy fight against Yahoo's board, conceded the online advertising deal between Yahoo and Google "might have some merit," though he's still disappointed that a merger with Microsoft didn't happen.

On Friday, Yahoo announced a nonexclusive, four-year agreement with Google under which Google's ads will appear alongside Yahoo's search results and on some of its Web properties. "While the Google deal is not the same as an offer of $34.375 per share for Yahoo, I am continuing to study it," Icahn told Reuters on Sunday.

The Yahoo-Google agreement also lets Google pull out should Yahoo be acquired or if the majority of its board is replaced. Yahoo's annual shareholder meeting is set for Aug. 1, a month after it was originally scheduled. The latest plan to emerge, this one from Yahoo investor Eric Jackson: that shareholders vote for a board comprising five existing directors and four nominees from Icahn's slate.

Source(s): The Street




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